print(summary_stats)
## # A tibble: 2 × 5
## waterfront mean_price median_price sd_price count
## <int> <dbl> <dbl> <dbl> <int>
## 1 0 545462. 460000 547781. 4567
## 2 1 1451621. 988500 1425994. 33
Explanation:
Waterfront Properties: Have a higher average price ($1,451,621) compared to non-waterfront properties ($545,462), as well as a larger standard deviation. Sample Size: There are 33 waterfront properties compared to 4,567 non-waterfront properties, indicating a smaller sample for waterfront properties. This shows clear differences in the statistics, which we will use to test our hypothesis